India Set to Rewrite Bilateral Trade Agreement with US Amid Tariffs

New Delhi: At a time when the US has made a fresh pitch for 10 per cent tariffs in the global trade arena, India is also set to change its strategy. A team of 12 senior officials, led by Additional Secretary in the Department of Commerce Darpan Jain, will be camping in Washington DC from April 20. The visit is not just a formality but a crucial exercise to rewrite the bilateral trade agreement (BTA) with the US. The 150-day tariffs that the Trump administration has imposed since February 24 have changed all old equations. India will now negotiate in a new environment to secure its exports and allow more advantageous terms in exchange for energy and technology from the US. As per the framework decided in February, the US had agreed to reduce tariffs on India from 50 per cent to 18 per cent, but the Supreme Court's intervention and Trump's new orders since then have brought it under review even before the agreement is signed. India's proposal is much bigger; India is now willing to buy $500 billion of US energy products, aircraft and coal from the US, while India's imports from the US are set to drop.